Fixed Asset Management and Compliance Training Course
Fixed asset management is crucial for ensuring operational efficiency, regulatory compliance, and financial sustainability. It involves the classification, tracking, depreciation, and disposal of assets such as machinery, equipment, vehicles, and property.
This instructor-led, live training (available online or on-site) is designed for intermediate to advanced finance and asset management professionals who aim to optimize asset tracking, control, and compliance with international financial reporting standards (IFRS).
By the end of this training, participants will be able to:
- Classify and configure fixed assets in accordance with IFRS regulations.
- Manage the creation, acquisition, and capitalization of assets.
- Implement effective control measures for asset tracking and monitoring.
- Apply suitable depreciation and amortization methods.
- Efficiently process asset movements, transfers, and disposals.
- Ensure adherence to financial reporting and audit standards.
Format of the Course
- Interactive lectures and discussions.
- Extensive exercises and practice sessions.
- Hands-on implementation in a live-lab environment.
Course Customization Options
- To request a customized training for this course, please contact us to arrange.
Course Outline
Introduction to Fixed Asset Management
- Definition and importance of fixed asset management
- Impact on financial reporting and compliance
- Integration with accounting and ERP systems
Classification and Configuration of Fixed Assets
- Fixed asset categorization according to IFRS
- Asset parameterization in accounting management systems
- Best practices for asset classification
Creation and Registration of Assets
- Acquisition methods and initial recognition
- Capitalization of associated costs
- Asset registration workflows and approvals
Control and Monitoring of Assets
- Identification and tracking of asset components
- Maintenance scheduling and lifecycle management
- Risk mitigation and internal control measures
Depreciation and Amortization
- Common depreciation methods (Straight-Line, Diminishing Balance, Units of Production)
- Amortization calculations based on asset type and useful life
- Accounting records and financial implications
Asset Movements and Transfers
- Procedures for internal asset transfers
- Generating delivery and assignment records
- Approval workflows and audit trails
Asset Disposal and Write-Offs
- Causes and procedures for asset retirement
- Accounting treatment of asset write-offs
- Legal and compliance considerations in asset disposal
Revaluation, Useful Life Adjustments, and Residual Value
- Asset revaluation criteria and financial impact
- Adjusting useful life and residual value
- Revaluation reporting in financial statements
Summary and Next Steps
Requirements
- Basic understanding of accounting principles
- Familiarity with financial reporting and regulatory compliance
- No prior experience with fixed asset management is required
Audience
- Asset management personnel
- Accounting and finance professionals
- Internal auditors and compliance officers
- Procurement and operations managers
Open Training Courses require 5+ participants.
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Testimonials (2)
Practical examples
Mateusz Nowicki - BFF Polska S.A.
Course - Planning and Risk Assessment
The fact that all the standard was reviewed and discussed with some examples, when needed and required.
Ioana
Course - ISO/IEC 27005 Information Security Risk Management
Upcoming Courses
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